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Tag: asia

  • Microsoft Copilot app can now be your next default assistant app on Android

    Microsoft Copilot app can now be your next default assistant app on Android

    Android users currently have a slew of options for choosing an assistant app on their devices. Where previously Google Assistant and Bixby were the ones that reigned, the rise of AI-powered chatbots saw these evolve as more than just text fields you can use on a browser. Currently, depending on the apps you have installed, you have fresh new options, and Microsoft’s Copilot is shaping up as one of them.

    As reported by Android expert Mishaal Rahman on X (Twitter), the newest beta version of the Microsoft Copilot app (v. 27.9.420225014) now gives you the ability to set it as your default assistant app. This makes the chatbot accessible from anywhere on your device with a simple swipe or button press.

    While this is a nice addition for Android users, don’t expect a seamless experience yet. Currently, activating Copilot mainly opens the app, meaning that it won’t immediately start listening like some other assistants, nor will it offer to analyze what is on your screen.

    However, this doesn’t mean that feature won’t be as helpful as Google Assistant or Bixby currently are, or perhaps even what Gemini could be. It’s still in beta, and Microsoft is likely to continue working on the app in order to make Copilot a truly integrated Android assistant. Microsoft has yet to officially announce this, but our guess is that by the time it moves on to the stable version of the app, more capabilities will be in tow.

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  • Netflix starts forcing grandfathered subscribers to stop paying Apple

    Netflix starts forcing grandfathered subscribers to stop paying Apple

    In 2018, Netflix stopped accepting payments for new subscriptions through the App Store, forcing new subscribers and those returning after a brief hiatus to pay Netflix through its website. It has been six years since Netflix allowed such subscribers to pay for their service through the App Store. This way, Netflix could avoid paying Apple its 15% to 30% cut on in-app transactions that go through Apple’s in-app payment processing platform.

    Netflix representative Momo Zhao told The Verge that all “members on the basic plan who were using an iTunes method of payment” now must pay Netflix directly for service using a credit card or a debit card. Those who signed up for Netflix before the video streamer stopped allowing users to subscribe through the App Store were able to hold on to a good deal for years and continued to pay each renewal period through Apple.

    Netflix has allowed grandfathered subscribers to continue to pay each month through the App Store, but that is about to change. As one “X” subscriber wrote in a tweet, “Netflix stopped working with Apple Pay and didn’t inform me. Now I’m locked out of my $9.99 a month price I had paid for years and I had to get charged $31 until I get a refund through Apple.”

    If you’re in the same shoes as the person who posted the above tweet, you’ll have to pay $5.50 more a month for the same plan you were paying $9.99 a month for or pay $3 less per month for the privilege of having your streaming interrupted by ads. No matter which plan you choose, you’ll be paying Netflix directly.

    To reiterate, if you are a long-time Netflix subscriber and have been paying through the App Store to maintain your Netflix subscription, be on the lookout for an email from the video streamer that says that if you want to remain a Netflix subscriber, you will have to stop paying your bill through Apple. And you might be paying a little more or a little less each month for Netflix service depending on whether you can live with ads running on the videos you’re watching.

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  • Philippines’ Clark airport makes pitch as aviation hub

    Philippines’ Clark airport makes pitch as aviation hub

    Last week, Philippine delegates pitched Clark International Airport’s viability as an attractive regional hub for global aerospace and aviation companies

    Airport developer Berthaphil is calling on maintenance, repair and overhaul (MRO) companies to consider setting up at Clark, where SIA Engineering has already established its own airframe maintenance operations. 

    Located 80 kilometres north of the capital Manila, the international airport can be accessed via the expressway and is situated within the free trade zone. This means interested parties can get favourable tax concessions, including up to a 7-year tax holiday and then a 5 percent corporate income tax rate.

    Berthaphil, which also built the first bonded warehouse and logistics centre at Clark, is offering a 10-hectare airfield site, with access to the primary runway, which can accommodate large widebody aircraft. The developer said the vacant property is available ‘as is’ or for a ‘a build to suit’ project.

    Apart from MRO companies, the groups are also targeting cargo airlines, logistics companies, fixed-based operators, business aviation companies, original equipment makers, regional and international airlines, and training organisations.

    Companies that have established operations at Clark include Singapore-based SIA Engineering and Hong Kong-based MetroJet. With a new terminal building, the airport has capacity for 80 million passengers, It is also an air cargo gateway for UPS, DHL and FedEx.

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  • Seafood exports to key markets rise 64%

    Seafood exports to key markets rise 64%

    Vietnam’s seafood exports rose by 64% year-on-year in January to nearly US$750 million, with shipments to China, the U.S. and the EU seeing sharp increases.

    Exports to China tripled, the Vietnam Association of Seafood Exporters and Producers (VASEP) said without providing specific figures.

    It said China, including Hong Kong, is Vietnam’s second biggest seafood market after Japan.

    Exports to Japan rose 43%. The increase were 63% to the U.S. and 34% to the E.U.

    But exporters said challenges that could hamper their recovery persist.

    Shrimp companies said global demand remains weak and therefore prices are low, they still have large inventories and are having difficulty competing with their Indian and Ecuadorian rivals.

    Diseases are also hitting shrimp output, they added.

    Pangasius prices increased by 11% to VND29,000 per kilogram in January.

    They expect a 10% increase in exports to $2 billion this year.

    VASEP said seafood exporters in general are facing difficulties due to geopolitical tensions in the Red Sea and the Russia-Ukraine conflict, which have caused shipping costs to soar.

    VASEP expects seafood exports to increase marginally to $9.5 billion this year.

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  • Tax evasion by wealthiest Americans tops $150B a year

    Tax evasion by wealthiest Americans tops $150B a year

    The U.S.’s Internal Revenue Service estimates that the country’s millionaires and billionaires are evading over US$150 billion in taxes annually.

    Audits of taxpayers earning over $1 million a year have declined by more than 80% over the last decade despite a 50% rise in the number of taxpayers with this income, according to IRS statistics last week.

    IRS Commissioner Danny Werfel blamed the decline on a prolonged lack of funding, which has left the agency understaffed and lacking the necessary technology and resources to conduct audits, particularly for intricate and sophisticated returns.

    In response to these challenges, the IRS has initiated an extensive crackdown on wealthy individuals, partnerships and large companies.

    The Treasury Department estimates that improved IRS enforcement could generate an additional $561 billion in tax revenues between 2024 and 2034, a figure higher than initially projected.

    The IRS estimates that for every additional dollar invested in enforcement, it can generate approximately $6 in revenues.

    It has reported success in a program targeting unpaid taxes from millionaires, collecting over $480 million from 1,600 millionaire taxpayers who failed to pay at least $250,000 each in assessed taxes.

    Another area of potential tax evasion highlighted by Werfel is in limited partnerships.

    Werfel said the IRS is not only focused on finding instances of tax evasion but is also using AI to avoid unnecessary audits for taxpayers who are following the rules. It has urged taxpayers to report any income received through illegal activities, such as dealing drugs.

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  • Yum Restaurants India to sell stake in local Yum Brands franchisee

    Yum Restaurants India to sell stake in local Yum Brands franchisee

    Yum Restaurants India is reported to have sold its 4.4 per cent share in Devyani International for US$105 million.

    Devyani International, from which Yum Restaurant acquired the stake in 2021, is the main franchisee of Yum Brands in China, operating KFC, Pizza Hut and Taco Bell.

    SBI Mutual Fund (MF), Axis MF, Franklin Templeton MF, Nippon India MF, and Goldman Sachs are among the investors in Devyani International’s stock.

    Devyani is planning to push the expansion of these brands, strengthening its growth strategy in FY24 by purchasing 274 KFC restaurants in Thailand, marking its first foray into Thailand’s quick-service and limited-service restaurant markets.

    The business also plans 2000 stores across the globe by the end of this year, ahead of the previous target date of 2026.

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  • Parkson Retail Asia books lower net profit amid weak consumer spending

    Parkson Retail Asia books lower net profit amid weak consumer spending

    Parkson Retail Asia booked a lower net profit last year with two fewer stores and weak consumer spending.

    The department store chain’s net profit fell 8.5 percent to S$26.3 million (US$19.6 million), while revenue fell 4 percent to S$221.6 million (US 165 million).

    The company ended the year with 37 stores, down from 39 in the prior year.

    Its gross sales proceeds from continuing operations slid 9.1 percent to S$535.7 million (US$398.8 million) as total merchandise sales and consultancy/management service fees fell 9.2 percent and 0.7 percent, respectively.

    Meanwhile, rental income grew 5.5 percent to S$1.6 million (US$1.2 million), and food and beverage increased 6.2 percent to S$2.2 million (US$1.6 million).

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  • Grab chalks up first profitable quarter, but clouds loom

    Grab chalks up first profitable quarter, but clouds loom

    Grab Holdings reported its first quarterly profit on Thursday and unveiled a maiden share repurchase program, but the ride-share and food-delivery firm’s weak annual sales forecast fanned growth worries and weighed on its shares.

    While the Singapore-based company’s ride-share growth hit pre-pandemic levels in 2023, its food-delivery services is rebounding from a slowdown following a boom during the lockdown.

    “There will be revenue acceleration in the years beyond 2024 as investments in our new products bear fruit,” CFO Peter Oey told Reuters.

    He said Grab was building premium offerings in its mobility and delivery services that could generate high-value transactions.

    US-listed shares of Grab, which also said it expects an annual adjusted core profit, were down 2 percent at $3.38 in early trading.

    The company forecast fiscal 2024 revenue between $2.70 billion and $2.75 billion, compared with analysts’ average estimate of $2.80 billion, according to LSEG data.

    Grab said on Thursday it would repurchase $500 million worth of class A ordinary shares, and announced an early payment of the remainder of a term loan. This followed global peer Uber announcing its first-ever share buyback last week.

    Grab also projected full-year adjusted core profit of $180 million to $200 million, compared with estimates of $135.2 million.

    The company’s fourth-quarter revenue of $653 million beat estimates of $629 million. Revenue rose 26 percent in its mobility business on holiday quarter travel demand, while it increased 20 percent in its delivery unit.

    Grab posted a net income of $11 million in the fourth quarter, helped in part by a “reversal of an accounting accrual”.

    The company delivered its first adjusted core profit in its fiscal third quarter, aided by workforce reduction and cut to some incentives and technology costs over the past two years.

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  • Twitch is raising subscription prices for the first time

    Twitch is raising subscription prices for the first time

    Twitch is raising prices for its channel subscriptions for the first time. Just over a month ago, Twitch announced that one in three of its employees will have to go in a 35% layoff spree.

    In two rounds of job-cutting fiesta, Amazon’s Twitch laid off about a thousand workers in total. By the way, in 2022, Amazon initiated its own workforce reduction, which affected some 27,000 positions across the company, and parallels with the “Red Wedding” episode from “Game of Thrones” were drawn.

    Before that, Twitch announced that it was ceasing its operations in Korea (South Korea, not North Korea, duh!) in February 2024.

    The Amazon-owned streaming platform says it has been operating at “significant losses” because of high local costs. The company specifically pointed to the high network fees in the country. Korea introduced legislation that would force major content providers to pay to use networks in the country.

    Apparently, Twitch has some money problems. Now, the platform says that “updating prices in several countries” will “help streamer revenue keep pace with rising costs and reflect local currency fluctuations”. The first markets to feel the impact of those changes are the UK, Canada, Australia and Turkey.

    As of March 28, Tier 1 subscriptions and gift subs will be more expensive in the UK, Canada and Australia. A base/gift sub is going up from £5 to £6 in the UK, $7 CAD to $8 in Canada and $8 AUD to $9 in Australia. Tier 2 and 3 prices will remain the same in those countries.

    In Turkey, Twitch is significantly increasing the price of all three tiers. For instance, a Tier 1 sub will soon cost 43.90 lira ($1.42) instead of 9.90 (32 cents). Don’t be shocked by these figures – the value of the Turkish lira has plummeted over the last decade. However, a 343% jump isn’t funny if you’re the one paying for it.

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  • Buy2sell Vietnam earns positive reviews from global partners

    Buy2sell Vietnam earns positive reviews from global partners

    Buy2sell Vietnam has received commendable reviews from international partners like Mykitkat, Leifredy, Kate of Tokyo, DrLoule, and Nunalin.

    In the dynamic realm of international commerce, Buy2sell Vietnam has emerged as one of the leading companies in importing and distributing goods and as a beacon of excellence garnering customer and supplier praise worldwide.

    In this narrative of success, the company has received many commendable reviews from esteemed international partners, including brands such as Mykitkat, Leifredy, Kate of Tokyo, DrLoule, and Nunalin.

    Mykitkat’s representative said that the firm had found an unparalleled partner in Buy2sell Vietnam. Its commitment to efficiency and market expertise has elevated the brand’s presence in Vietnam.

    “The transparent and trustworthy collaboration has expanded our reach and created a foundation for mutual success.”

    Another partner, Leifredy, has reviewed Buy2sell Vietnam as one of its privilege partners.

    “Their strategic market insights and commitment to excellence have significantly boosted our brand’s presence in the Vietnamese market. The efficiency of their distribution channels has broadened our reach and established a foundation of trust,” said Michael, CEO of Leifredy.

    Kate of Tokyo’s review of Buy2sell said it was the partner’s market expertise and dedication to innovation that seamlessly aligned with the brand’s vision.

    Lucy, Sales Director of Kate of Tokyo, and CEO Suyokama both said that Buy2sell’s efficient distribution networks have propelled their products into the hearts of Vietnamese consumers.

    They are not just a distributor but a true partner in the brand’s journey of success in Vietnam.

    “The efficiency of Buy2sell’s distribution channels has not only elevated Nunalin’s brand presence but has also played a pivotal role in meeting the diverse needs of the Vietnamese market. Buy2Sell is our great partnership,” said Shane, founder of Nualin.

    Lastly, there is DrLoule. They said that Buy2sell’s efficient distribution networks have expanded their reach and solidified their presence in the Vietnamese market.

    Collectively, these positive reviews from renowned international brands paint a vivid tapestry of success for Buy2sell Vietnam.

    The reviews from Mykitkat, Leifredy, Kate of Tokyo, and Nunalin stand as testimonials to the company’s unwavering commitment.

    “The trust and support from international partners underscore Buy2sell’s effectiveness in bridging the gap between suppliers and consumers, creating more success in the competitive world of international trade for Vietnam and Asia,” said Buy2sell Vietnam’s representative.

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  • Digital Banking Specialist Adnovum Secures AI Expertise

    Digital Banking Specialist Adnovum Secures AI Expertise

    IT consulting firm Adnovum has joined forces with a Swiss artificial intelligence specialist. The partners want to use the technology of the future to transform the financial sector.

    Adnovum and Squirro have embarked upon a strategic partnership, as we learned in a press release on Wednesday. The aim of this cooperation? To use Squirro’s artificial intelligence (AI), natural language processing, and retrieval augmented generation technologies to enhance the digital solutions offered by Adnovum.

    Together, the two companies want to launch new offers which will transform the banking and insurance sectors, as they promoted in the press release.

    The cooperation will focus on the Swiss and Singapore markets. There, the new AI solutions are intended to go beyond the conventional digital transformation and complement human intelligence. Processes in service management and client engagement are particular focus points.

    In recent years, Adnovum has made a name for itself in digitizing the Swiss financial center, and also has a presence in Asia. Squirro was founded in 2012 and is a fast-growing company with teams in Switzerland, the United States, the U.K., and Singapore. Clients of the AI specialist include the European Central Bank and the Bank of England.

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  • Gasoline prices drop

    Gasoline prices drop

    Gasoline and diesel prices fell Thursday afternoon as global demand is forecast to fall this year.

    The popular gasoline RON95 dropped 1.34% from a week ago to VND23,590 per liter.

    Biofuel E5 RON92 fell 1.58% to VND22,470. Diesel declined by 2.11% to VND20,910.

    RON95 fell 2% to $99.7 per barrel and diesel dropped 3% to $105.03.

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  • Vietnamese fashion brand Yody launches first store in Thailand

    Vietnamese fashion brand Yody launches first store in Thailand

    Vietnamese fashion label Yody will launch its first store in Thailand, the brand’s first physical store abroad.

    The store will be located in an as yet unnamed large Bangkok shopping centre. Yody has already launched an online presence in Thailand and plans to launch in Malaysia in the future.

    Established in 2014, Yody currently has more than 270 stores across Vietnam, focusing on producing “high-quality fashion products and excellent services to customers”.

    The fashion retailer is currently hiring staff in Thailand, preparing for the launch.

    According to Yody’s website, the company has been pushing for worldwide growth since 2022, with plans to expand in the US as well, along with an e-commerce strategy through Amazon.

    Yody prioritises sustainable approaches above the fast-fashion trend. The company writes on its website that it uses S’Cafe fabric (made from coffee beans) as well as other materials such as Coolmax, Airycool, and Birdseye pique fabric.

  • Apple suppliers need 103,000 workers in Vietnam this year

    Apple suppliers need 103,000 workers in Vietnam this year

    U.S. tech giant Apple’s contract manufacturers in Vietnam plan to hire over 103,000 workers this year, mostly for their factories in northern Bac Giang Province.

    Foxconn, Apple’s biggest supplier, needs 15,000 workers for its plants in the Dinh Tram and Quang Chau industrial parks (IPs) in the first half of the year, and 12,000 in the second.

    New Wing Interconnect Technology, a Foxconn subsidiary based in the Van Trung IP, will hire 27,000 workers this year, including 6,000 in the next two months.

    Fukang Technology, another Foxconn unit with a plant in the Quang Chau IP, needs 13,600 more workers this year.

    Another Apple supplier, Luxshare-ICT, plans to hire 47,300 workers at its plants in Quang Chau and Van Trung IPs.

    It will hire 200-300 people a month in February and March before increasing it to 7,000-9,000 after June or July when it expects to receive more orders.

    All these factories require workers aged 18 to 40 who have graduated high school and are in good health.

    Foxconn is even willing to take in applicants who have only completed the sixth grade.

    All the companies will pay a basic salary of VND5 million (US$203.8), social insurance contributions and other benefits, according to Nguyen Van Hue, director of the Bac Giang Province Job Center.

    They usually attract and retain workers mainly through other benefits such as housing rent and meal allowances and overtime work, which take workers’ incomes to VND8-9 million a month, he said.

    Factories simultaneously hiring en masse makes it difficult to find enough people quickly, he said.

    In contrast to the mass layoffs early last year, factories are trying to maintain their workforces this year since they have massive orders.

    “Many companies’ human resources personnel have even traveled to small villages in the northern mountains and central region to hire people, and ask existing employees to introduce relatives and friends.”

    Bac Giang has over 7,600 businesses that employ around 306,000 workers.

    Its real estate market has been thriving for the last five or six years and several industrial zones have been built or expanded.

    Business upscaling and a surge in new orders has led to soaring demand for labor here.

    Foxconn has been present in Vietnam since 2007 when it established plants in Bac Ninh and Bac Giang provinces before expanding to several other northern provinces.

    It is a critical cog in Apple’s supply chain.

  • WhatsApp rolling out new text formatting features to everyone

    WhatsApp rolling out new text formatting features to everyone

    WhatsApp has been testing additional text formatting features for quite some time now. The last report involving this set of new features dates from January and included details about what new options WhatsApp users will eventually get if the app decided to give these the green light.

    Thankfully, it looks like WhatsApp is done texting these new text formatting features, at least according to The Verge. No less than four new text formatting options are now rolling out to WhatsApp users on Android, iOS, Web, and Mac.

    Starting today, WhatsApp users will be able to use block quotes, inline code, as well as bulleted and numbered lists. These new options are self-explanatory, but it’s worth noting that the inline code option allows users to highlight specific information in a wall of text. To actually enable inline code, you’ll have to wrap the text with the “’” symbol.

    In addition to these four new options, WhatsApp offers four text formatting features: Bold, Italic, Strikethrough, and Monospace. Also, each of the new text formatting option has a shortcut to make use of it on the fly.

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